Decision No. 2023-PDG-0024: Coordinated General Decision 13-930 Regarding Exemptions from Certain Filing Obligations Related to the Launch of SEDAR+

DECISION No. 2023-PDG-0024
Coordinated General Decision 13-930 regarding exemptions from certain filing obligations related to the launch of the System for Electronic Data Analysis and Research + (SEDAR+)

Definitions

1. The expressions used in this Decision are defined in the Securities Act, RLRQ, c. V-1.1 (the "Act"), and Regulation 14-101 on definitions, RLRQ, c. V-1.1, r. 3.
2. In this Decision:
   "transition period": the period extending from June 9, 2023, to the end date of the transition; "end date of the transition": the earlier of the following two dates: (A) the date on which SEDAR+ becomes accessible for filings, and (B) June 16, 2023.

Context
3. The Pan-Canadian Systems Renewal Program is a project of the Canadian Securities Administrators aimed at replacing their existing pan-Canadian systems with a centralized system, the System for Electronic Data Analysis and Research + (SEDAR+). The first phase of SEDAR+ will replace the System for Electronic Data Analysis and Research (SEDAR), the Insider Trading Database, the Sanctioned Persons List, as well as certain filings made using the eServices system of the British Columbia Securities Commission and the Electronic Filing Portal of the Ontario Securities Commission.
4. Upon the launch of SEDAR+, Regulation 13-103 on the System for Electronic Data Analysis and Research + (SEDAR+) (the "Regulation 13-103") will come into force, requiring any person who is obligated or permitted to file certain documents with the securities regulator, or send them to it, to do so by transmitting them via SEDAR+.
5. Subject to necessary approvals, the Autorité des marchés financiers (the "Authority") expects that, on June 9, 2023, Regulation 13-103 will come into force and Regulation 13-101 on the System for Electronic Data Analysis and Research (SEDAR), RLRQ, c. V-1.1, r. 2, will be repealed. SEDAR will therefore cease to function for filings as of that date.

6. SEDAR+ will be inaccessible during the transition period to allow for the migration of necessary data.
7. During the transition period, it will be impossible for filers to comply with the obligation, under Regulation 13-103, to file documents with the Authority, or send them to it, by transmitting them via SEDAR+.
8. This Decision does not exempt filers from the obligations to publish press releases or transmit documents to security holders under securities legislation.

Decision
Exemption from the obligation to file or send documents during the transition period
9. Pursuant to section 263 of the Act and considering that this does not prejudice the protection of investors, the Authority exempts any person required to transmit a document via SEDAR+ in accordance with Regulation 13-103 from the obligation, under securities legislation, to file it with the Authority or send it to it, during the transition period, provided that they file or send it by such means no later than 2 business days after the end date of the transition.

Exemption from the obligation to transmit documents via SEDAR+ during the transition period
10. Pursuant to section 263 of the Act and considering that this does not prejudice the protection of investors, the Authority exempts any person from the obligation, set out in section 2 of Regulation 13-103, to transmit documents via SEDAR+ during the transition period, provided that they file them with the Authority, or send them to it, by transmitting them as follows:
a) in accordance with the Annex to this Decision; and b) via SEDAR+ no later than 2 business days after the end date of the transition.

Deemed grant of passport
11. Pursuant to section 263 of the Act and considering that this does not prejudice the protection of investors, the Authority exempts any person from the obligation set out in paragraph b of subsection 1 of section 3.3 of Regulation 11-102 on the passport system, RLRQ, c. V-1.1, r. 1 (the "Regulation 11-102"), during the transition period, provided that they meet the following conditions:
a) they file the preliminary prospectus in accordance with paragraph a of section 10 of this Decision, and inform the Authority by cover letter that this filing is made under Regulation 11-102; b) at the time of filing the preliminary prospectus via SEDAR+, they indicate that they are relying on Regulation 11-102 for this purpose.
12. Pursuant to section 263 of the Act and considering that this does not prejudice the protection of investors, the Authority exempts any person from the obligation set out in paragraph b of subsection 2 of section 3.3 of Regulation 11-102 during the transition period, provided that they meet the following conditions:
a) they file the prospectus in accordance with paragraph a of section 10 of this Decision, and inform the Authority by cover letter that this filing is made under Regulation 11-102; b) at the time of filing the prospectus via SEDAR+, they indicate that they are relying on Regulation 11-102 for this purpose.

Effective date
13. This Decision takes effect on May 11, 2023.
Made on May 11, 2023
Louis Morisset
President and Chief Executive Officer

ANNEX
Territories General Filing Methods Exceptions to General Filing Methods British Columbia cutover@bcsc.bc.ca Applications other than partial or full exemptions, and limited trading ban applications, must be filed via the eServices system.
Alberta transition@asc.ca Applications addressed to the Commission or the Executive Director must be sent to legalapplications@asc.ca.
Saskatchewan corpfin@gov.sk.ca N/A.
Manitoba securities@gov.mb.ca N/A.
Ontario For investment funds:
IF_SEDARplus_cutover@osc.gov.on.ca
For all other files:
CF_SEDARplus_cutover@osc.gov.on.ca
N/A.
Quebec For investment funds:
Fonds_dinvestissement@lautorite.qc.ca
For all other files:
Dispenses.passeport@lautorite.qc.ca
Documents related to an eligible transaction of a DSE (Development and Support Enterprise) must be filed by email to the general email address or in paper format at 800, rue du Square-Victoria, 22nd floor, P.O. Box 246, Place Victoria, Montreal (Quebec) H4Z 1G3. New Brunswick transition@fcnb.ca Documents from corporations or community economic development cooperatives (CEDCs) (forms prescribed by Local Rule 45-509) must be filed by email to the general email address or in paper format at 85, rue Charlotte, office 300, Saint John (New Brunswick) E2L 2J2. Nova Scotia NSSC_Corp_Finance@novascotia.ca Applications other than partial or full exemptions must be addressed to NSSCEXEMPTIONS@novascotia.ca. Prince Edward Island ccis@gov.pe.ca N/A. Newfoundland and Labrador SecuritiesExemptions@gov.nl.ca N/A. Yukon securities@yukon.ca N/A. Northwest Territories Securitiesregistry@gov.nt.ca N/A. Nunavut securities@gov.nu.ca N/A.